A widely followed crypto analyst says one altcoin that has skyrocketed over 700% in the last four months still has momentum while updating his outlook on Bitcoin (BTC) and Fartcoin (FARTCOIN).
In a new thread, pseudonymous crypto analyst Altcoin Sherpa tells his 253,000 followers on X that Pudgy Penguins (PENGU), the native asset of the Pudgy Penguins non-fungible token (NFT) collection, still has room to grow despite seeing massive gains earlier this year.
“I still like PENGU a lot, but not currently in an active position on it. Would love to buy around $0.025 but this current region is also still support.
Swing trade strategy might be to buy 1/3rd position here and 2/3rds position lower if it comes. This one still has more upside later on [in my opinion], but it might take some patience.”
PENGU is trading for $0.0305 at time of writing, a 2.2% decrease on the day.
Moving on to the crypto king, Sherpa says that if BTC can reclaim the $115,000 level, it will likely climb to a price tag of $117,000 or more due to its momentum.
“BTC – $112,000 reclaim in progress but we’re not really fully back until some higher levels are reclaimed first [in my opinion]. $115,000 is also a key level coming up…
If this closes like this today, I think we go to $117,000 for BTC.”
However, he notes that if the flagship digital asset’s upward swing falters, it could head the other way to a price tag of $105,000 or $107,000.
“BTC breaks $112,000 and you go to $117,000. Don’t break $112,000 and you see $107,000 or lower (maybe $105,000).”
BTC is trading for $113,158 at time of writing.
Concluding his analysis with Fartcoin, the trader says that the memecoin will likely rise if the smart contract platform Solana (SOL) does as well.
“Bought some more FARTCOIN, if SOL legs up we’ll see this go. Hot air rises.”
FARTCOIN is valued at $0.845 at time of writing, while SOL is trading for $214.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
